Jmart Corporation Included the Following Disclosure Note in a Recent

question 20

Essay

Jmart Corporation included the following disclosure note in a recent annual report:
RESTRICTED STOCK (in part)
we issued 100,000 shares of restricted stock at market prices ranging from $46.00 to $60.
The restricted stock generally vests over three years, during which time we will recognize total compensation expense of approximately $6 million.
Required:
1. Based on the information provided in the disclosure note, determine the weighted average market price of the restricted stock issued.
2. How much compensation expense did Jmart report for the year following the year in which the restricted stock was issued?

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Definitions:

Heritable

Traits or characteristics that can be passed from one generation to the next through genetic inheritance.

Minority Youth

Young people belonging to a racial, ethnic, cultural, or social group that is not in the majority within a given society, often facing distinct challenges and experiences.

Caucasian Youth

A descriptive term for young individuals of European descent or who identify with the white racial category.

Attention-deficit/hyperactivity Disorder

A neurodevelopmental disorder characterized by problems with focus, hyperactivity, or acting impulsively.